On July 17, Geek+ Technology (02590.HK) declined 5.43% in regular trading, hitting a fresh 52-week low at HK$9.63 per share, with turnover of approximately HK$35.55 million.

The decline is primarily driven by persistent selling pressure following the expiration of the pre-IPO shareholder lock-up period on July 9. The significant increase in freely tradable shares continues to weigh on the stock despite the company conducting intensive daily buybacks. Since the lock-up expiry, the company has cumulatively repurchased 12.8 million shares, yet this has failed to reverse the downward trend. On July 16 alone, the company spent approximately HK$15.59 million repurchasing 1.5 million shares at prices between HK$10.28 and HK$10.69 per share.

Sector-wide weakness in Industrial Machinery compounded the pressure, with peers DOBOT falling 9.91%, ESTUN declining 9.52%, and UBTECH ROBOTICS dropping 4.45% during the same session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)